Academy News

As the nation prepares to hear the president's State of the Union address, the Academy has detailed a list of policy priorities to restore the nation's fiscal health and financial security. The Academy believes that improving the sustainability of the Social Security and Medicare programs, developing a new retirement security framework, achieving the goals of health reform, and developing regulatory systems to successfully manage financial systemic risk should be among the nation's highest policy priorities in 2012. (January 24, 2012)

The annual Academy legislative/regulatory year in review details significant legislative and regulatory activities affecting the actuarial profession, as well as the Academy's work on these issues during the past year. Read the full alert.  (January 23, 2012)

You can order your copy online or by mail/fax. The manual is designed to help appointed actuaries comply with the requirements of the NAIC model Standard Valuation Law and the Model Actuarial Opinion and Memorandum Regulation.  (January 20, 2012)

In December 2011, the Department of Health and Human Services published final regulations implementing the medical loss ratio requirements in the ACA. Insurers have already begun complying with the reporting and rebate requirements under the ACA and this webinar will focus on the implications of the changes in the final regulations. Learn more. (January 17, 2012)

The Academy’s Health Practice Council will present a webinar on Feb. 10 to provide actuaries from all practice areas with essential background on the Affordable Care Act (ACA), including key provisions in the law (focusing on those intended to expand coverage and the status of implementation). Members are invited free of charge. Learn more.  (January 11, 2012)

If you are under the age of 70 and retired, planning to retire soon, or on temporary leave, you may be eligible for a partial Academy membership dues waiver. Qualified members receive a substantial discount and can continue to enjoy the same benefits of full membership. Click here to learn more about how partial dues work and to apply.  (January 06, 2012)

2012 membership dues remain at the same level as 2011. If you haven’t paid your 2012 dues, click here to conveniently pay online. Now is also a good time to ensure your member profile is up to date, make any necessary changes, and sign up for Academy alerts—timely online bulletins about legislative and regulatory developments that keep members informed. Log in now to pay your dues, print your invoice, or to update your profile. (January 06, 2012)

This issue features an article clarifying which organization’s continuing education requirements apply to actuaries practicing in the United States; a review of Ellen Schultz’s new book, Retirement Heist; an engaging history of three Victorian actuaries who made great contributions to the profession; and much more. (January 04, 2012)

Read the December issue of HealthCheck to learn about the regulatory approach the Department of Health and Human Services (HHS) plans to propose in defining essential health benefits under the Affordable Care Act. This issue also looks at the HHS’ final rules regarding the Consumer Operated and Oriented Plan program and medical loss ratio requirements for health insurers.  (December 23, 2011)

The Medicare slide decks—the first topic to be addressed in the Academy’s Campaign 2012 Toolkits series—include an overview of the structure of Medicare, the challenges to the program’s solvency and sustainability, and options that have been proposed to reform the program. You can download these files here: (December 23, 2011)

The December Actuarial Update features profiles of incoming ABCD Chairperson Paul Fleischacker and incoming ASB Chairperson Robert Meilander. Other newsletter highlights include a look at the December Professionalism webinar on international issues and the new online 2012 election toolkits.  (December 22, 2011)

Life Practice Council Vice President Cande Olsen made a presentation to the NAIC’s  Contingent Deferred Annuity (A) Subgroup on the Academy’s Contingent Annuity Work Group’s report that was submitted to the NAIC on October 28. (December 22, 2011)

Read about issues that affect pension actuaries and the Academy’s work to advance sound pension policy in the latest edition of the Enrolled Actuaries Report. (December 19, 2011)

The Academy and the Society of Actuaries (SOA) have joined resources to manage the economic scenario generators used in regulatory reserve and capital calculations. The latest version of the interest rate and equity generator is now on the SOA website. The SOA will provide frontline support and maintenance for the economic scenario generators. A joint Society of Actuaries/American Academy of Actuaries Project Oversight Group will oversee the generators and assist the SOA in providing technical support and direction for the current and future versions of the generators. All versions of the generators, pre-packaged scenario sets, and documentation will be archived on the Academy website. Academy members involved in creating and updating the generators will continue to work with the regulatory community and the SOA to refine the generators and implement regulatory requirements for economic scenario generators. Support questions should be directed to: (December 16, 2011)

Robert Meilander has been appointed chairperson of the Actuarial Standards Board, and Paul Fleischacker has been appointed chairperson of the Actuarial Board for Counseling and Discipline. Their terms will begin on Jan. 1, 2012. (December 15, 2011)